Since 2019, the concept of the golden visa in the UAE has been gaining momentum as an attractive option for individuals seeking residency. The UAE has leveraged the opportunity and has since introduced further categories to allow more individuals to receive the visa.
In 2022 alone, 79,617 were issued under all categories.
Why is the UAE becoming a popular destination for golden visas?
The UAE has rapidly developed its economy and infrastructure over the past few decades to become a leading global hub for business and investment. As a result, the country has become an attractive destination for foreign investors, and the government has introduced several initiatives to encourage investment.
One such initiative was the golden visa program, launched by the UAE government in 2019. The program allows foreign investors to obtain a long-term residency visa in the country if they meet certain investment criteria. The program is designed to attract entrepreneurs and investors to the UAE and encourage them to make long-term investments in the UAE.
Benefits of a golden visa in the UAE
This visa in the UAE benefits all holders, specifically entrepreneurs, foreign investors, and businesses. You can check in with a PRO expert for added perks specific to your situation.
The advantages of a golden visa for individuals have been discussed extensively. Here are the benefits of the golden visa program that may be of particular interest to businesses:
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Attracting Investors:
The golden visa program in the UAE is designed to attract foreign investors willing to make significant investments. This major business benefit can increase capital flow and stimulate economic growth.
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Long-Term Residency:
The golden visa program allows foreign investors to obtain long-term residency in the UAE, which can be a major advantage for businesses seeking a permanent presence.
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Access to Business Opportunities:
The UAE is a hub for business and investment. A golden visa can provide investors with new opportunities to expand their business in the region. This can benefit businesses looking to enter new markets or establish partnerships with local companies.
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Access to Skilled Labor:
The UAE’s golden visa program also makes it easier for businesses to attract skilled labor worldwide. With the ability to sponsor family members for residency, businesses can bring in workers with the expertise they need to succeed in their industry.
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Access to Healthcare and Education:
Golden visa holders can access the same healthcare and education services as UAE citizens. This can be a major benefit for businesses looking to attract and retain talented workers and their families.
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Facilitation of Business Travel:
With a long-term residency in the UAE, businesses can avoid the need for frequent visa renewals and other travel-related paperwork. This can save time and reduce costs associated with business travel.
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Strengthening Business Ties:
A golden visa can also strengthen business ties between the UAE and other countries. This can benefit businesses operating in multiple countries and want to establish a presence in the UAE.
Conclusion
This visa program in the UAE is gaining hype and becoming an attractive option for high-net-worth individuals seeking residency.
With the government’s efforts to promote the UAE as a leading destination for business and investment, it is no surprise that more and more people are considering applying for it. With its many benefits, the golden visa program in the UAE is worth considering for anyone looking to make a long-term investment in the region.